China Delivers More Problems For Steel

Tata Steel has announced closures and job losses in the U.K.

Tata Steel has provided 1,170 sad reasons to think the long-awaited revival of the European steel sector is as distant as ever. It confirmed Tuesday that U.K. closures would mean the loss of that many jobs.

The immediate cause is Chinese producers shoveling metal into the global market. China’s steel demand has gone into reverse with declines expected this year and next, says the World Steel Association. Chinese exports surged last year and are up again sharply.